Your monthly pension payment may increase to reflect increases in the cost of living.
Your monthly pension payment may increase as a result of an annual cost-of-living adjustment (COLA). This adjustment may be added to your pension to help it keep pace with increases in the cost of living over time.
Once a COLA is granted, it becomes part of your lifetime pension. The COLA is also applied to the bridge benefit and the temporary annuity portion of your pension, if applicable.
There is no guarantee that a COLA will be granted every year.
In your first year of retirement, your inflation adjustment is pro-rated according to the number of months you’ve been retired.